What Is Satoshi

 What Is Satoshi ?

Most cryptocurrencies are measured in reference to the value to that of Bitcoins. However, the value of many alternative crypto-coins is tiny when compared to the very expensive Bitcoin. Therefore, a common measurement unit is the Satoshi which is 100,000,000th of a Bitcoin.

Bitcoin is the reference coin and current foundation of cryptocurrency. This alternative currency is established enough now that it can be bought for fiat (or cash) through many options. Many newer cryptocurrency options are becoming popular, and most of them are obtained through the trading of Bitcoins. The values these new coins are often measured in their values versus Bitcoin. If you are going to buy a crypto-coin and must use Bitcoin to do it, you will need to know how much that coin is worth in Bitcoins. 
MilliBitcoin = 1000th of a Bitcoin. | .001 BTC = 1 MilliBitcoin MicroBitcoin = 1,000,000th of a Bitcoin. | .000001 BTC = 1 MicroBitcoin Satoshi= 100,000,000th of a Bitcoin. | .000000001 BTC = 1 Satoshi 
The Satoshi term is named for Satoshi Nakamoto, the pseudonymous person or 
group that designed and created the Bitcoin protocol.

0.00000001 BTC = 1 satoshi
0.0000001 BTC = 10 satoshi
0.000001 BTC = 1 uBTC (micro)
0.00001 BTC = 10 uBTC
0.0001 BTC = 100 uBTC
0.001 BTC = 1 mBTC (milli)
0.01 BTC = 10 mBTC
0.1 BTC = 100 mBTC
1 BTC = 1 BTC
10 BTC = 10 BTC
100 BTC = 100 BTC
1.000 BTC = 1 kBTC (kilo)
10.000 BTC = 10 kBTC
100.000 BTC = 100 kBTC
1.000.000 BTC = 1 MBTC (mega)
10.000.000 BTC = 10 MBTC

Readmore → What Is Satoshi

What is Bitcoin?

What is Bitcoin?

Bitcoin is a payment system introduced as open-source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. Payments work peer-to-peer without a central repository or single administrator, which has led the US Treasury to call bitcoin a decentralized virtual currency. Although its status as a currency is disputed, media reports often refer to bitcoin as a cryptocurrency or digital currency.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for fiat money, products, and services. Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

Bitcoin as a form of payment for products and services has seen growth,and merchants have an incentive to accept the digital currency because fees are lower than the 2-3% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections. Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

Bitcoin has been a subject of scrutiny amid concerns that it can be used for illegal activities. In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other governments. In China, buying bitcoins with yuan is subject to restrictions, and bitcoin exchanges are not allowed to hold bank accounts.

If you want to know more then check out the full Bitcoin Wikipedia article or watch the YouTube video below.

Readmore → What is Bitcoin?